-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IxzQ61Uom7q6l/M0Y6eGReA0GvxtXHUy6GVY9/3kTRQYkotMgGmKBiJ/HjsiuNtN 80MkyoaEOXneMXW0L18jIQ== 0001012870-97-001124.txt : 19970610 0001012870-97-001124.hdr.sgml : 19970610 ACCESSION NUMBER: 0001012870-97-001124 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970606 SROS: NONE GROUP MEMBERS: JAY C. HOAG GROUP MEMBERS: RICHARD H. KIMBALL GROUP MEMBERS: TCV II (Q), L.P. GROUP MEMBERS: TCV II STRATEGIC PARTNERS, L.P. GROUP MEMBERS: TCV II, V.O.F. GROUP MEMBERS: TECHNOLOGY CROSSOVER MANAGEMENT II LLC GROUP MEMBERS: TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES II, C.V. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES II, L.P. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES, C.V. GROUP MEMBERS: TECHNOLOGY CROSSOVER VENTURES, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MEMBERWORKS INC CENTRAL INDEX KEY: 0001020996 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 061276882 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-47315 FILM NUMBER: 97620113 BUSINESS ADDRESS: STREET 1: 680 WASHINGTON BLVD., SUITE 1100 CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033247635 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TECHNOLOGY CROSSOVER MANAGEMENT II LLC CENTRAL INDEX KEY: 0001040275 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 770439710 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 101 EISENHOWER PKWY CITY: ROSELAND STATE: NJ ZIP: 07068 BUSINESS PHONE: 2012282234 MAIL ADDRESS: STREET 1: 101 EISENHOWER PKWY CITY: ROSELAND STATE: NJ ZIP: 07068 SC 13D 1 SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. _____)* MemberWorks Incorporated - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 586002 10 7 ---------------------------------------- (CUSIP Number) Robert C. Bensky, c/o Technology Crossover Ventures, 101 Eisenhower Parkway, Roseland, NJ 07068 (201) 228-2234 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 28, 1997 ------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [_]. NOTE: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 2 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES, L.P. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON See Item 2 for identification of General Partner - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 626,431(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 626,431(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 626,431(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 137,809 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 3 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES, C.V. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SEE ITEM 2 FOR A LIST OF GENERAL PARTNERS - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 NETHERLANDS ANTILLES - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 49,609(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 49,609(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 49,609(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 714,631 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 4 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON See Item 2 for list of Managing Members - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 OO - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 676,040(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 676,040(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 676,040(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 4.6% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 OO - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 88,200 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 5 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES II, L.P. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON See Item 2 for identification of General Partner - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 DELAWARE - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 42,193(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 42,193(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 42,193(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 722,047 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 6 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TCV II (Q), L.P. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SEE ITEM 2 FOR IDENTIFICATION OF GENERAL PARTNER - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 DELAWARE - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 32,438(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 32,438(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 32,438(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0.2% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 731,802 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 7 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TCV II STRATEGIC PARTNERS, L.P. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SEE ITEM 2 FOR IDENTIFICATION OF GENERAL PARTNER - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 DELAWARE - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 5,756(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 5,756(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 5,756(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 LESS THAN 0.1% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 758,484 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 8 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER VENTURES II, C.V. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SEE ITEM 2 FOR A LIST OF GENERAL PARTNERS - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 NETHERLANDS ANTILLES - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 6,441(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 6,441(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 6,441(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 LESS THAN 0.1% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 757,799 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 9 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TCV II, V.O.F. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SEE ITEM 2 FOR A LIST OF MANAGING GENERAL PARTNERS - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 WC - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 NETHERLANDS ANTILLES - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 1,372(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 1,372(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,372(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 LESS THAN 0.1% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 PN - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 762,868 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 10 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON SEE ITEM 2 FOR A LIST OF MANAGING MEMBERS - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 OO - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 DELAWARE - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 88,200(A) SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 0(A) OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 88,200(A) PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0(A) - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 88,200(A) - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0.6% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 OO - ------------------------------------------------------------------------------ (A) Excludes an aggregate of 676,040 shares owned beneficially by the other reporting persons indicated in this Schedule 13D, as to which this reporting person disclaims beneficial ownership. SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 11 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON JAY C. HOAG 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 OO - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 U.S. CITIZEN - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 764,240 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 764,240 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 764,240 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.2% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 IN - ------------------------------------------------------------------------------ SCHEDULE 13D - ------------------------------------------------------------------------------ CUSIP NO. 586002 10 7 PAGE 12 OF 30 PAGES --- --- - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON RICHARD H. KIMBALL 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (SEE INSTRUCTIONS) 4 OO - ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO 5 ITEMS 2(d) OR 2(e) [_] - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 U.S. CITIZEN - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 764,240 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 764,240 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 0 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 764,240 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X] 12 (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 5.2% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) 14 IN - ------------------------------------------------------------------------------ SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 13 of 30 Pages - -------------------------------------------------------------------------------- ITEM 1. SECURITY AND ISSUER. ------------------- The title of the class of securities to which this Schedule 13D relates is Common Stock ("Common Stock") of MemberWorks Incorporated, a Delaware corporation (the "Issuer"). The principal executive offices of the Issuer are located at 680 Washington Boulevard, Suite 1100, Stamford, CT, 06901. ITEM 2. IDENTITY AND BACKGROUND. ----------------------- Set forth below is the following information with respect to each of the persons filing this Schedule 13D (together, the "Filing Persons") and, in addition, each of such person's managing partners or managing members, as the case may be, and, if applicable, the persons controlling such managing partners or managing members (such additional persons, together with the Filing Persons, the "Item 2 Persons"): (a) name; (b) address of principal offices (if entity) or residence or business address (if individual); (c) principal business (if entity) or principal occupation and name, business and address of employer (if individual); (d) information concerning criminal convictions during the last five years; (e) information concerning civil or administrative proceedings under state or federal securities laws during the past five years with respect to any state or federal securities laws and (f) citizenship (if individual) or jurisdiction of organization (if entity). I. a) Technology Crossover Ventures, L.P., a Delaware limited partnership ("TCV I, L.P."). The General Partner of TCV I, L.P. is Technology Crossover Management, L.L.C., a Delaware limited liability company ("TCM I"). The sole Managing Members of TCM I are Jay C. Hoag ("Hoag") and Richard H. Kimball ("Kimball"). b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) TCV I, L.P. is an investment fund. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Delaware II. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 14 of 30 Pages - -------------------------------------------------------------------------------- a) Technology Crossover Ventures, C.V., a Netherlands Antilles limited partnership ("TCV I, C.V."). The General Partners of TCV I, C.V. are TCM I and Technology Crossover Administrator, N.V., a Netherlands Antilles corporation ("TCA I"). TCA I is ultimately controlled by Hoag and Kimball. b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles c) TCV I, C.V. is an investment fund. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Netherlands Antilles III. a) Technology Crossover Management, L.L.C., a Delaware limited liability company. b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) TCM I is an investment fund manager. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Delaware IV. a) Technology Crossover Administrator, N.V., a Netherlands Antilles corporation. b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles c) TCA I is the Administrative General Partner of TCV I, C.V. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Netherlands Antilles V. a) Technology Crossover Ventures II, L.P., a Delaware limited partnership ("TCV II, L.P."). The General Partner of TCV II, L.P. is Technology Crossover Management II, L.L.C., a Delaware limited liability company ("TCM II"). The sole Managing Members of TCM II are Hoag and Kimball. b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) TCV II, L.P. is an investment fund. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Delaware SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 15 of 30 Pages - -------------------------------------------------------------------------------- VI. a) TCV II (Q), L.P., a Delaware limited partnership ("TCV II (Q)"). The General Partner of TCV II (Q) is TCM II. b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) TCV II (Q) is an investment fund. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Delaware VII. a) TCV II Strategic Partners, L.P., a Delaware limited partnership ("TCV II Strategic Partners"). The General Partner of TCV II Strategic Partners is TCM II. b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) TCV II Strategic Partners is an investment fund. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Delaware VIII. a) Technology Crossover Ventures II, C.V., a Netherlands Antilles limited partnership ("TCV II, C.V."). The General Partners of TCV II, C.V. are TCM II and Technology Crossover Administrator II, N.V., a Netherlands Antilles corporation ("TCA II"). TCA II is ultimately controlled by Hoag and Kimball. b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles c) TCV II, C.V. is an investment fund. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Netherlands Antilles IX. a) TCV II, V.O.F., a Netherlands Antilles general partnership ("TCV II, V.O.F."). The Managing General Partners of TCV II, V.O.F. are TCM II and TCA II. b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles c) TCV II, V.O.F. is an investment fund. d) No criminal convictions(1) SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 16 of 30 Pages - -------------------------------------------------------------------------------- e) No adverse civil judgments for violations of securities laws(1) f) Netherlands Antilles X. a) Technology Crossover Management II, L.L.C., a Delaware limited liability company. b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) TCM II is an investment fund manager. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Delaware XI. a) Technology Crossover Administrator II, N.V., a Netherlands Antilles corporation. b) Pietermaai 15, Willemstad, Curacao, Netherlands Antilles c) TCA II is the Administrative General Partner of TCV II, C.V. and TCV II, V.O.F. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Netherlands Antilles XII. a) Jay C. Hoag b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) Hoag is a Managing Member of both TCM I and TCM II. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Citizen of the United States of America XIII. a) Richard H. Kimball b) 575 High Street, Suite 400, Palo Alto, CA 94301 c) Kimball is a Managing Member of both TCM I and TCM II. d) No criminal convictions(1) e) No adverse civil judgments for violations of securities laws(1) f) Citizen of the United States of America SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 17 of 30 Pages - -------------------------------------------------------------------------------- _______________ (1) During the last five years, no person listed above has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), nor has any such person been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in such person becoming subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. ------------------------------------------------- All of the securities of the Issuer disclosed on the cover pages to this Schedule 13D are held of record by the entities listed below. The source of funds used in the acquisition of such securities, in each case, was the general working capital of such entities. Such working capital was contributed by such entities' respective partners.
============================================================================== AGGREGATE WEIGHTED NUMBER OF AGGREGATE AVERAGE HOLDER SHARES(1) AMOUNT PAID(2) PRICE PER SHARE - ------------------------------------------------------------------------------ TCV I, L.P. 626,431 $4,632,309 $ 7.39 - ------------------------------------------------------------------------------ TCV I, C.V. 49,609 $ 366,843 $ 7.39 - ------------------------------------------------------------------------------ TCV II, V.O.F. 1,372 $ 22,298 $16.25 - ------------------------------------------------------------------------------ TCV II, L.P. 42,193 $ 685,708 $16.25 - ------------------------------------------------------------------------------ TCV II (Q) 32,438 $ 527,173 $16.25 - ------------------------------------------------------------------------------ TCV II Strategic Partners 5,756 $ 93,545 $16.25 - ------------------------------------------------------------------------------ TCV II, C.V. 6,441 $ 104,677 $16.25 - ------------------------------------------------------------------------------ TOTALS 764,240 $6,432,552 $ 8.42 ==============================================================================
- --------------- (1) Includes shares issuable upon the exercise of warrants. Includes both open market purchases of Common Stock and Common Stock issued upon conversion of Preferred Stock of the Issuer. (2) Includes exercise price of warrants exercisable within 60 days of the date hereof. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 18 of 30 Pages - -------------------------------------------------------------------------------- ITEM 4. PURPOSE OF TRANSACTION. ---------------------- The acquisitions of the shares of the Issuer's Common Stock that are the subject of this filing were made for the purpose of investment and not with a view to distribution of the shares or with a view toward acquiring control of the Issuer. The Item 2 Persons with the power to do so may sell, or cause to be sold, all or part of such shares or acquire, or cause to be acquired, additional securities of the Issuer depending on market conditions and other economic factors. Except as described above, no reporting person has any current plans or proposals that relate to or would result in: a. The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; b. An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; c. A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; d. Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; e. Any material change in the present capitalization or dividend policy of the Issuer; f. Any other material change in the Issuer's business or corporate structure; g. Changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; h. Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter- dealer quotation system of a registered national securities association; i. A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange Act; or j. Any action similar to any of those enumerated above. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 19 of 30 Pages - -------------------------------------------------------------------------------- ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. ------------------------------------ (A) AND (B) Except to the extent otherwise expressly stated herein, this Schedule 13D shall not be construed as an admission that any Item 2 Person is, for purposes of Section 13(d) or 13(g) of the Act, the beneficial owner of any Common Stock disclosed in this Schedule 13D. The aggregate number and percentage of the class of securities identified pursuant to Item 1 of this Schedule 13D that are beneficially owned by each Item 2 Person are as follows:
Common Stock Beneficially Owned -------------------------------------- Item 2 Person Shares Outstanding Shares Subject to % of Voting Dispositive - ---------------------- ------------------ ----------------- --------- ------ ----------- Option or Class(1) Power Power ----------------- --------- ------ ----------- Warrant ----------------- TCV I, L.P. (2) 601,152 25,279 4.3% sole sole TCV I, C.V. (2) 47,608 2,001 0.3% sole sole TCM I 648,760 27,280 4.6% sole sole TCA I 0 0 0% N/A N/A TCV II, L.P. (3) 42,193 0 0.3% sole sole TCV II (Q) (3) 32,438 0 0.2% sole sole TCV II Strategic 5,756 0 less than 0.1% sole sole Partners (3) TCV II, C.V. (3) 6,441 0 less than 0.1% sole sole TCV II, V.O.F. (3) 1,372 0 less than 0.1% sole sole TCM II 88,200 0 0.6% sole sole TCA II 0 0 0% N/A N/A Hoag (4) 736,960 27,280 5.2% shared sole Kimball (4) 736,960 27,280 5.2% shared sole
______________________ (1) All percentages in this table are based, pursuant to Rule 13d-1(e) of the Securities Exchange Act of 1934, on the 14,665,857 shares of Common Stock of the Company SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 20 of 30 Pages - -------------------------------------------------------------------------------- outstanding as of April 30, 1997, as reported in the Company's Quarterly Report on Form 10-Q for the period ended March 31, 1997. (2) Each noted entity (together, the "TCV I Funds") is the holder of record of the securities set forth opposite the name of such entity and has sole voting and investment power with respect to such securities. TCM I, as sole General Partner of TCV I, L.P. and as Investment General Partner of TCV I, C.V., may also be deemed to have sole voting and investment power with respect to such securities. (3) Each noted entity (together, the "TCV II Funds") is the holder of record of the securities set forth opposite the name of such entity and has sole voting and investment power with respect to such securities. TCM II, as sole General Partner of TCV II, L.P., TCV II (Q) and TCV II Strategic Partners and as Investment General Partner of TCV II, C.V. and TCV II, V.O.F., may also be deemed to have sole voting and investment power with respect to such securities. (4) Under the operating agreements of both TCM I and TCM II, Hoag and Kimball have the independent power to cause the funds managed by such entities to buy and sell securities of publicly traded portfolio companies, however, in general, they must act by unanimous consent with respect to all other matters, including directing the voting of such securities. As a result, Hoag and Kimball may also be deemed to have sole dispositive power and shared voting power with respect to the securities held by the TCV I Funds and the TCV II Funds. Shares Held by Marc S. Tesler - ----------------------------- Marc S. Tesler ("Tesler") is a non-managing member of both TCM I and TCM II. Tesler is also a member of the Board of Directors of the Issuer. Mr. Tesler's beneficial ownership of Common Stock of the Issuer consists exclusively of 9,000 shares of Common Stock of the Issuer subject to options which may become exercisable within 60 days of the date hereof (the "Tesler Shares"). Tesler also holds options covering an additional 27,000 shares of Common Stock of the Issuer that will not become exercisable within 60 days of the date hereof. Under the operating agreements of both TCM I and TCM II, non-managing members have no voting or dispositive power with respect to securities held by the TCV I Funds or the TCV II Funds. No Item 2 Person has the sole or shared power to vote or dispose of any of the Tesler Shares. SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 21 of 30 Pages - -------------------------------------------------------------------------------- (c) The following is a list of transactions in the Issuer's securities by the Item 2 Persons within the last 60 days, all of which were open market purchases effected on May 28, 1997:
SHARES PRICE PER ITEM 2 PERSON PURCHASED SHARE - ------------- --------- --------- TCV I, L.P. 1,668 $15.13 TCV I, C.V. 132 $15.13 TCV II, V.O.F. 594 $15.13 TCV II, L.P. 18,274 $15.13 TCV II (Q) 14,049 $15.13 TCV II Strategic Partners 2,493 $15.13 TCV II, C.V. 2,790 $15.13 TOTAL 40,000 $15.13
(d) Inapplicable. (e) Inapplicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS -------------------------------------------------------- WITH RESPECT TO SECURITIES OF THE ISSUER. ---------------------------------------- There are no contracts, arrangements or understandings among any of the Item 2 Persons made or entered into specifically with respect to holding, voting or disposing of the Common Stock of the Issuer. Under the terms of the respective Partnership Agreements of the TCV I Funds, TCM I possesses the power to manage the investment activities of the TCV I Funds, including the power to direct the voting and direct the disposition of the Common Stock of the Issuer. Under the terms of the respective Partnership Agreements of the TCV II Funds, TCM II possesses the power to manage the investment activities of the TCV II Funds, including the power to direct the voting and SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 22 of 30 Pages - -------------------------------------------------------------------------------- disposition of the Common Stock of the Issuer. Under the Operating Agreements of TCM I and TCM II, Hoag and Kimball (the sole Managing Members of each of such entities) possess the power to cause TCM I and TCM II to exercise such voting and dispositive power with respect to the securities of the Issuer held by the TCV I Funds and the TCV II Funds. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. -------------------------------- The following exhibit is attached hereto: A - Statement Appointing Designated Filer and Authorized Signer SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 23 of 30 Pages - -------------------------------------------------------------------------------- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated June 6, 1997 TECHNOLOGY CROSSOVER VENTURES, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TECHNOLOGY CROSSOVER VENTURES, C.V., a Netherlands Antilles Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C., a Delaware Limited Liability Company By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TECHNOLOGY CROSSOVER VENTURES II, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TCV II (Q), L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 24 of 30 Pages - -------------------------------------------------------------------------------- TCV II STRATEGIC PARTNERS, L.P., a Delaware Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TECHNOLOGY CROSSOVER VENTURES II, C.V., a Netherlands Antilles Limited Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TCV II, V.O.F., a Netherlands Antilles General Partnership By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C., a Delaware Limited Liability Company By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory Jay C. Hoag By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory Richard H. Kimball By: /s/ Robert C. Bensky --------------------------------------- Robert C. Bensky, Authorized Signatory SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 25 of 30 Pages - -------------------------------------------------------------------------------- EXHIBIT A STATEMENT APPOINTING DESIGNATED FILER AND AUTHORIZED SIGNER Each of the undersigned entities and individuals (collectively, the "Reporting Persons") hereby designates the entity listed in Column II of Exhibit A hereto, or such other person or entity as is designated in writing by - --------- Robert C. Bensky (any such entity is referred to as the "Designated Filer") as the beneficial owner to make filings of Schedules 13D and 13G (and any amendments thereto) pursuant to Section 13(d) of the Securities Exchange Act of 1934 (the "Exchange Act") and of Forms 3, 4 and 5 (and any amendments thereto) pursuant to Section 16(a) of the Exchange Act (collectively, the "Reports") with respect to the securities of the entities listed in Column I of Exhibit A hereto --------- and with respect to the securities of any other entity whose securities are now, or hereafter become, publicly traded and whose securities are beneficially owned (directly or indirectly) both by such Reporting Person and by such Designated Filer (collectively, the "Companies"). Each Reporting Person hereby further authorizes and designates ROBERT C. BENSKY (the "Authorized Signatory") to execute and file on behalf of such Reporting Person the Reports with respect to the securities of the Companies, including all Schedules 13D and 13G and Forms 3, 4 and 5, and any amendments thereto, that such Reporting Person may be required to file with the United States Securities and Exchange Commission as a result of such Reporting Person's ownership of, or transactions in securities of the Companies. The authority of the Designated Filer and the Authorized Signatory under this document with respect to each Reporting Person shall continue until such Reporting Person is no longer required to file Schedules 13D or 13G or Forms 3, 4 and 5 with respect to the Reporting Person's ownership of, or transactions in, the securities of the Companies, unless earlier revoked in writing. Each Reporting Person acknowledges that the Designated Filer and the Authorized Signatory are not assuming any of the Reporting Person's responsibilities to comply with Section 13(d) or Section 16 of the Exchange Act. Date: June 2, 1997 TECHNOLOGY CROSSOVER MANAGEMENT, L.L.C., a Delaware Limited Liability Company By: /s/ Jay C. Hoag -------------------------------- Jay C. Hoag, Managing Member SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 26 of 30 Pages - -------------------------------------------------------------------------------- Date: June 2, 1997 TECHNOLOGY CROSSOVER VENTURES, L.P., a Delaware Limited Partnership By: Technology Crossover Management, L.L.C. a Delaware Limited Liability Company Its General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member Date: June 2, 1997 TECHNOLOGY CROSSOVER VENTURES, C.V., a Netherlands Antilles Limited Partnership By: Technology Crossover Management, L.L.C. a Delaware Limited Liability Company Its Investment General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member And By: Technology Crossover Administrator, N.V. a Netherlands Antilles Corporation Its Administrative General Partner By: /s/ ABN AMRO Trust Company (Curacao) N.V. ------------------------------------------- ABN AMRO Trust Company (Curacao) N.V. Managing Director Date: June 2, 1997 TECHNOLOGY CROSSOVER MANAGEMENT II, L.L.C., a Delaware Limited Liability Company By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 27 of 30 Pages - -------------------------------------------------------------------------------- Date: June 2, 1997 TECHNOLOGY CROSSOVER VENTURES II, L.P., a Delaware Limited Partnership By: Technology Crossover Management II, L.L.C. a Delaware Limited Liability Company Its General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member Date: June 2, 1997 TCV II (Q), L.P., a Delaware Limited Partnership By: Technology Crossover Management II, L.L.C. a Delaware Limited Liability Company Its General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member Date: June 2, 1997 TCV II STRATEGIC PARTNERS, L.P., a Delaware Limited Partnership By: Technology Crossover Management II, L.L.C. a Delaware Limited Liability Company Its General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 28 of 30 Pages - -------------------------------------------------------------------------------- Date: June 2, 1997 TECHNOLOGY CROSSOVER VENTURES II, C.V., a Netherlands Antilles Limited Partnership By: Technology Crossover Management II, L.L.C. a Delaware Limited Liability Company Its Investment General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member And By: Technology Crossover Administrator II, N.V. a Netherlands Antilles Corporation Its Administrative General Partner By: /s/ ABN AMRO Trust Company (Curacao) N.V. ------------------------------------------- ABN AMRO Trust Company (Curacao) N.V. Managing Director Date: June 2, 1997 TCV II, V.O.F., a Netherlands Antilles General Partnership By: Technology Crossover Management II, L.L.C. a Delaware Limited Liability Company Its Investment General Partner By: /s/ Jay C. Hoag --------------------------------------- Jay C. Hoag, Managing Member And By: Technology Crossover Administrator II, N.V. a Netherlands Antilles Corporation Its Administrative General Partner By: /s/ ABN AMRO Trust Company (Curacao) N.V. ------------------------------------------- ABN AMRO Trust Company (Curacao) N.V. Managing Director SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 29 of 30 Pages - -------------------------------------------------------------------------------- Date: June 2, 1997 /s/ Robert C. Bensky ----------------------------------------------- Robert C. Bensky Date: June 2, 1997 /s/ Jay C. Hoag ----------------------------------------------- Jay C. Hoag Date: June 2, 1997 /s/ Richard H. Kimball ----------------------------------------------- Richard H. Kimball Date: June 2, 1997 /s/ Andrew B. Sessions ----------------------------------------------- Andrew B. Sessions Date: June 2, 1997 /s/ Marc S. Tesler ----------------------------------------------- Marc S. Tesler SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 586002 10 7 Page 30 of 30 Pages - -------------------------------------------------------------------------------- EXHIBIT A
Column I Column II Persons/Entities on Whose Behalf - --------------------------- ---------------- ------------------------------------------ Publicly Traded Company Designated Filer the Designated Filer May Act - --------------------------- ---------------- ------------------------------------------ MemberWorks Incorporated Technology Technology Crossover Management, L.L.C. Crossover Technology Crossover Ventures, L.P. Management II, Technology Crossover Ventures, C.V. L.L.C. Technology Crossover Management II, L.L.C. Technology Crossover Ventures II, L.P. TCV II (Q), L.P. TCV II Strategic Partners, L.P. Technology Crossover Ventures II, C.V. TCV II, V.O.F. Robert C. Bensky Jay C. Hoag Richard H. Kimball Andrew B. Sessions Marc S. Tesler - -------------------------------------------------------------------------------------------
-----END PRIVACY-ENHANCED MESSAGE-----